 "M&M rolls out KUV1OO at Rs 4.42 lakh")
The vehicle will be the third product under four meters in length (Quanto and TUV3OO being the other two) from the company. Built at a cost of Rs 1,200 crore over a period of four years, the KUV1OO is the smallest M&M vehicle with seating capacity of a maximum of six people.
The SUV also marks the entry of M&M into the petrol segment, the engine of which was developed in-house. The KUV1OO has to compete with the Swift (petrol) priced at Rs 4.66 lakh and the Grand i10 priced at Rs 4.64 lakh (both ex-showroom, Pune). The compact car segment contribute 60 per cent of the passenger vehicle market or one million units a year.
Besides petrol, M&M is also offering the regular diesel option with prices starting at Rs 5.22 lakh. In comparison, diesel variants of the Swift and Grand i10 are priced at Rs 5.85 lakh and Rs 5.58 lakh, respectively.
The KUV1OO and the TUV3OO (launched in July) are attempts by the Mumbai-based company to fill up gaps in its portfolio which for long depended on past generations models like Bolero, Xylo and Scorpio for volumes.
The market share of M&M, which dipped to below 40 per cent because of rising competition is expected to shore up with these launches.
Pawan Goenka, executive director, M&M said, “The launch of KUV1OO is a defining moment in the automotive journey of Mahindra much like the Scorpio. With this model we are defining a new SUV sub-segment and targeting a new customer group.”
It is expected that the KUV1OO and the TUV3OO will contribute 30-35 per cent of the volumes of M&M’s passenger vehicle offering. M&M’s premium offering XUV5OO and the KUV1OO will be built on the same line in Chakan.
But M&M won’t have a monopoly for very long. Rivals like Maruti Suzuki, Honda, Tata Motors, General Motors, Fiat are working on compact SUVs, the launch of which will start as early as next month.